2 possible scenario's here coming to election season important to have both bias!
For buys I want to see the ascending channel respected and to close above on the 4hr to retest the weekly highs as we did this week; this is a risky trade as we simply can't seem to close above 12k anymore so stops to BE as quickly as possible. 2nd target is the all time highs highlighted.
For sells, 3 confluences: break of channel, close below 50% fib retracement and close below 4hr support! Target = 61.8% fib keeping an eye on how price reacts around the 11,600 mark minor support.
For buys I want to see the ascending channel respected and to close above on the 4hr to retest the weekly highs as we did this week; this is a risky trade as we simply can't seem to close above 12k anymore so stops to BE as quickly as possible. 2nd target is the all time highs highlighted.
For sells, 3 confluences: break of channel, close below 50% fib retracement and close below 4hr support! Target = 61.8% fib keeping an eye on how price reacts around the 11,600 mark minor support.
